As you read this letter, private lenders are legally sticking taxpayers with loan losses by getting Freddie Mac and Fannie Mae to guarantee or buy bad mortgages. It appears we won’t be out of Iraq by the agreed deadline of December 31, 2011 because the Iraqis have intentionally not prepared to take over their own security.
Now is the moment to act. No more borrowing money; we can cut spending (no federal agency to be exempt) to levels that give us a budget surplus. No more bailouts of lenders who loaned money based upon inflated real estate prices while not bothering to verify if borrowers could afford the monthly payments. No more delay in our exit from Iraq; if we don’t get out as agreed, we will be defending 27 million Iraqis for years.
These are only three of the problems incumbents have neglected. I am an attorney and CPA. I have over two decades of experience dealing with tax and debt problems. I serve as a military lawyer in the Army reserve (not presently on active duty). My experience in Iraq has led me to conclude the Iraqis will never act as a sovereign nation as long as the United States keeps paying the bills.
